mCig, Inc. Consumer Division (BareRoots) Receives Purchase Order for 10,000 Monthly Boxes of the Company’s Proprietary CBD-Based Products
JACKSONVILLE, FL - ( NewMediaWire ) - January 17, 2020 - mCig, Inc. (OTCQB:MCIG), vertically integrated company focused on the development and commercialization of over the counter, science-driven, botanical nutrigenetics that target the endocannabinoid system, today announced that the company’s CBD consumer division has agreements to commence this quarter.
MCIG Inc. subsidiary, BareRoots Rx Inc., the consumer products division, has entered into an agreement to distribute 10,000 monthly boxes of the COMPANY’S PROPRIETARY CBD-BASED PRODUCTS to select tribal communities. The company anticipates revenue of approximately $1.1 Mil in its first year of operation under the agreement. It also has entered into a white labeling agreement with cannabis company to supply approximately $200,000 of CBD derivative products.
“This is an important milestone for company in securing new contractual revenue,” noted Paul Rosenberg, President and CEO, MCIG Inc. “This is the first of what we believe will be many derivative product sales and manufacturing agreements for our new facility in Scottsdale, Arizona.”
About MCIG Group
Headquartered in Jacksonville, Florida, mCig, Inc. (MCIG) is a diversified company servicing the legal cannabis, hemp and CBD markets via its lifestyle brands.
The Company has been featured in media nationwide, including CNBC, Bloomberg, TheStreet.com. For more information, visit www.mciggroup.com. Visit us on Facebook @ https://www.facebook.com/mCigInc/ Follow us on Twitter @mcigInc
About BareRoots Rx Inc.
The company focused on the development and commercialization of OTC, science-driven, botanical nutrigenetics, that target the endocannabinoid system. BareRoots Rx Inc. also deliver high-quality consumer and OTC THC-free CBD products that promote overall health, and well being, as well as state-of-the-art testing and analytics capabilities to our customers.
This press release may include predictions, estimates or other information that might be considered forward-looking within the meaning of applicable securities laws. While these forward-looking statements represent the Company’s current judgments, they are subject to risks and uncertainties that could cause actual results to differ materially. You are cautioned not to place undue reliance on these forward-looking statements, which reflect the opinions of the Company’s management only as of the date of this release. Please keep in mind that the Company is not obligating itself to revise or publicly release the results of any revision to these forward-looking statements in light of new information or future events. When used herein, words such as: potential, expect, look forward, believe, dedicated, building, or variations of such words and similar expressions are intended to identify forward-looking statements. Factors that could cause actual results to differ materially from those contemplated in any forward-looking statements made by the Company herein are often discussed in filings the Company makes with the United States Securities and Exchange Commission (SEC) available at www.sec.gov and on the Company’s website at www.mciggroup.com.